Oil rises amid Fed commitment to low rates

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Associated Press

Posted on February 27, 2013 at 6:02 AM

BANGKOK (AP) — The price of rose modestly today in Asia as regional stock markets got a boost from the Federal Reserve's sanguine view about the risks of its low interest rate policy.

Benchmark crude for April delivery was up 28 cents to $92.91 a barrel at midafternoon Bangkok time in electronic trading on the New York Mercantile Exchange. The contract fell 48 cents closing to settle at $92.63 on Tuesday.

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